Statement by the Prime Minister of Iceland

The Icelandic government appreciates that the British authorities are willing to step in and respond to the immediate concerns of depositors of Landsbankinn Icesave accounts.

The governments of the two countries will immediately review the matter in detail through official channels with a view to finding a mutually satisfactory solution.

It should also be highlighted that on Monday evening changes were made to the Act on the Depositors’ and Investors’ Guarantee Fund strengthening the position of depositors by giving them priority when allocating assets.

There is a good probability that the total assets of Landsbankinn will be sufficient to cover the deposits in IceSave.